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Obama: Geithner for Treasury
November 22, 2008President-elect Barack Obama is expected to nominate New York Federal Reserve President Timothy Geithner for Treasury Secretary.
Private investors OK'd for bailouts
November 22, 2008Read full story for latest details.
Job cuts cast dark cloud
November 22, 2008As the economic outlook worsens, job cut announcements have come in hard and fast this week from businesses across the nation.
Cheap gas can't save the economy
November 22, 2008The stock market stinks like a moldy piece of Limburger cheese. Unemployment is on the rise. Home prices continue to fall. There are fears that one or more of Detroit's Big Three could go bankrupt.
Economy lightens Santa's bag
November 22, 2008Cash strapped Christmas shoppers will have a tighter hold on their pocketbooks this holiday season, according to a national consumer survey released Friday.
FDIC OKs backing U.S. bank debt, deposits
November 22, 2008Read full story for latest details.
Fed official: 'Poor' economy likely to last
November 22, 2008Read full story for latest details.
Dollar mixed as jitters persist
November 22, 2008The dollar was mixed against major currencies Friday as investors remain risk-averse amid global economic uncertainty.
Your 401(k) match at stake
November 22, 2008As the faltering economy forces companies to cut back, employee perks are among the first things to go. And along with free coffee in the break room, the next thing your employer might axe is its contribution to your retirement savings plan. About 84% of companies in the U.S. offered employees a 401(k) match as of last year according to Watson Wyatt, a benefits consulting firm. But for cash strapped companies, reducing or eliminating the retirement contribution may be one way to cut back on costs during hard economic times. Frontier Airlines already announced that it was suspending its matching contributions to 401(k) plans earlier this year. Struggling automakers General Motors and Ford, as well as Dollar Thrifty Automotive Group and real estate firm Cushman & Wakefield also announced they would no longer be offering employer matches.
The Big Three Depression risk
November 22, 2008The U.S. auto industry weathered the Great Depression. But there are some fears that its current crisis could cause another one.
